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But if you take away the "supreme" moniker, you'll quickly discover a rather nondescript iPhone 3GS. With the "supreme" tag, however, you're looking at a gold-dipped iPhone of the gods more ornate and pricey than any other Apple product available.

Dubbed "the world's most expensive iPhone," British designer Stuart Hughes is at it again. Having previously dabbled in precious metals and Apple technology, Hughes has netted some impressive media coverage in recent years by rolling out gold-plated iPhones that typically ranged in value from $30,000 to the low six figures. That all changes with the iPhone 3GS Supreme, which according to PC World, is quite the work of impractical art.

The iPhone 3GS Supreme was crafted using 271 grams of 22ct solid gold. The front bezel houses 136 flawless diamonds, which total to a massive 68 carats. The rear Apple logo in solid gold has 53 flawless diamonds amounting to 1 carat, and the front navigation button is home to a single cut very rare diamond at 7.1 carats.

Is the $3.2 million iPhone 3GS Supreme even worth talking about?

Yes and no.

While no one that I know (including myself) can afford such a tricked-out iPhone, the device has increasingly been used as an instrument of art for artists and entrepreneurs who take modifying their iPhones to a whole new level. In this case, the iPhone 3GS Supreme, which weighs 7kg, was commissioned by an anonymous Australian businessman.

"The iPhone is the phone with the most tricks on the market. What possibly could we do to trick it up more? Bless it with the finest precious metal and jewels," said Hughes. "Most of the ten months was spent trying to source the diamond for the navigation button."

In case you're wondering, there was no Black Friday deal on the iPhone 3GS Supreme.